Volume 43 - Issue 29 - July 18, 2024
(Published in the Kansas Register July 18, 2024.)
City of Gardner, Kansas
Summary Notice of Sale
$1,545,000*
General Obligation Bonds,
Series 2024A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the terms and requirements of the Notice of Sale dated on or about July 26, 2024 (the “Notice of Sale”), bids will be received on behalf of the City of Gardner, Kansas (the “City”), by Baker Tilly Municipal Advisors, LLC by email at bids@bakertilly.com, or, in the case of electronic proposals, via PARITY® Electronic Bid Submission System (“PARITY”) until 11:00 a.m. (Central Time) August 5, 2024, for the purchase of $1,545,000* principal amount of General Obligation Bonds, Series 2024A (the “Bonds”). No bid of less than $1,520,280 (98.4% of the par value of the Bonds), plus accrued interest to the date of delivery, will be considered. Bidders may be required to be qualified in a manner established by the City before submitting a bid.
Bond Details
The Bonds will consist of fully registered bonds in the denomination of $5,000 or any integral multiple thereof. The Bonds will be dated August 29, 2024 (the “Dated Date”), and will become due October 1 in the years as follows:
| Year | Principal* Amount |
|---|---|
| 2025 | $45,000 |
| 2026 | 55,000 |
| 2027 | 60,000 |
| 2028 | 60,000 |
| 2029 | 60,000 |
| 2030 | 60,000 |
| 2031 | 70,000 |
| 2032 | 70,000 |
| 2033 | 70,000 |
| 2034 | 75,000 |
| 2035 | 75,000 |
| 2036 | 80,000 |
| 2037 | 85,000 |
| 2038 | 85,000 |
| 2039 | 90,000 |
| 2040 | 90,000 |
| 2041 | 100,000 |
| 2042 | 100,000 |
| 2043 | 105,000 |
| 2044 | 110,000 |
| * Preliminary; subject to change. | |
The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as provided in the Notice of Sale, which interest will be payable semiannually on April 1 and October 1 in each year, beginning on April 1, 2025. A bidder may elect to have all or a portion of the Bonds scheduled to mature in consecutive years issued as term bonds subject to the requirements set forth in the Notice of Sale.
Paying Agent and Bond Registrar
Treasurer of the State of Kansas, Topeka, Kansas.
Good Faith Deposit
Each bid shall be accompanied by a cashier’s or certified check drawn on a bank located in the United States of America or a wire transfer in the manner that complies with the requirements set forth in the Notice of Sale in the amount of $30,900 (2% of the principal amount of the Bonds).
Delivery
The City will pay for preparation of the Bonds and will deliver the same properly prepared, executed, and registered without cost to the successful bidder on or about August 29, 2024, at the offices of The Depository Trust Company, New York, New York.
Assessed Valuation and Indebtedness
The equalized assessed tangible valuation for computation of bonded debt limitations for the year 2023 is $344,998,680. The total general obligation indebtedness of the City as of the date of the Bonds, including the Bonds being sold, is $69,725,000*. The City’s total indebtedness, which is subject to debt limitation, including the Bonds being sold and as of the date of the Bonds, is estimated to be $30,883,554.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Kutak Rock LLP, Kansas City, Missouri, Bond Counsel, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the City and delivered to the successful bidder as and when the Bonds are delivered.
Additional Information
Additional information regarding the Bonds may be obtained from Matt Wolff, the City’s Finance Director, phone 913-856-7535; from the Municipal Advisor, Baker Tilly Municipal Advisors, LLC, 30 E. 7th St., Suite 3025, Saint Paul, MN 55101, phone 651-223-3000; or from Kutak Rock LLP, Attn: Tyler Ellsworth, Bond Counsel, 2300 Main St., Suite 800, Kansas City, MO 64108-2416, phone 816-960-0090.
Dated July 11, 2024.
City of Gardner, Kansas
Matt Wolff
Finance Director
120 E. Main
Gardner, KS 66030
913-856-7535
Doc. No. 052311
